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U.S Equity Futures Drift Lower

By MarketPulse (Andrew Robinson)ETFsNov 29, 2019 02:17AM ET
www.investing.com/analysis/us-equity-futures-drift-lower-200488869
U.S Equity Futures Drift Lower
By MarketPulse (Andrew Robinson)   |  Nov 29, 2019 02:17AM ET
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Wall Street cash markets were closed yesterday so it was left to futures markets to drift lower from record highs in lacklustre, holiday-thinned trade.

US30USD Daily Chart

US30USD Daily Chart
US30USD Daily Chart

The US30 index closed lower for the first time in five days yesterday amid profit-taking and month-end hedging

The 55-day moving average has risen to 27,177, edging higher toward possible trendline support around the 27,240 level

There are no major data releases scheduled for today. Analysts will be poised to hear what retailers have to say about Black Friday sales.

DE30EUR Daily Chart

DE30EUR Daily Chart
DE30EUR Daily Chart

The Germany30 index was left range-bound for a second day yesterday in slow trading

The 55-day moving average has risen to 12,750. The 23.6% Fibonacci retracement of the rally from October 3 to November 12 is at 12,960

The provisional reading for Euro-zone consumer prices is expected to show an uptick to +0.9% y/y in November, according to the latest survey of economists. ECB’s De Guindos is scheduled to speak today.

CN50USD Daily Chart

CN50USD Daily Chart
CN50USD Daily Chart

The China50 index posted the biggest drop of the week yesterday after US President Trump signed the HK Democracy Bill into law, raising fears that the Phase 1 trade deal may be in jeopardy

The index is testing the 100-day moving average at 13,688, which has only been breached once since August 16 on a closing basis

China releases its PMI data for November tomorrow. The manufacturing sector PMI is seen rebounding slightly to 49.5 from 49.3 while the service sector PMI is expected to improve to 53.6 from 52.8.

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U.S Equity Futures Drift Lower
 

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U.S Equity Futures Drift Lower

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